UPDATE 1-Slovak jobless at new low in April, more drop seen

17.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

(Adds Labour Office comments) Slovakia's unemployment rate fell to a new record low of 8.5 percent due to rapid economic growth, and the...

...Labour Office said on Thursday it expected a 
further decline in May. 
    The unemployment rate was 8.9 percent in March, according to 
Labour Office statistics of people registered as unemployed but 
able to start work shortly. 
    "GDP growth dynamics are creating conditions for employment 
growth, and the business environment is also gradually 
improving," said Vladimir Hasko, head of the Labour Office's 
research department. 
    Preliminary data showed the Slovak economy rose by real 8.9 
percent in the first quarter of 2007, which was less than market 
expectations of a double digit rise but still one of the fastest 
growth rates in the European Union. 
    "We expect the unemployment rate to decline further in May," 
Hasko said, adding seasonal work was also helping to hold down  
the jobless rate. 
    Slovakia's unemployment rate has fallen steadily from around 
20 percent four years ago after the former centre-right 
government cracked down on abuses of the welfare system. 
    Foreign direct investment has also helped create new jobs. 
    The fall in the unemployment rate bodes well for leftist 
Prime Minister Robert Fico, whose agenda focuses on improving 
social conditions for the poor. 
    But analysts said some of Fico's plans, such as the proposed 
labour code changes giving more protection to workers and 
strengthening union rights, could hurt the flexibility of the 
job market and slow job creation in the longer term. 
 

[BRATISLAVA/Reuters/Finance.cz]

Autor článku

 

Články ze sekce: Zpravodajství ČTK